Electronic Arts Inc. (NASDAQ:EA) Shares Acquired by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. boosted its position in Electronic Arts Inc. (NASDAQ:EA) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,435 shares of the game software company’s stock after purchasing an additional 187 shares during the period. Sumitomo Life Insurance Co.’s holdings in Electronic Arts were worth $923,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of Electronic Arts by 4.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 39,723 shares of the game software company’s stock valued at $5,434,000 after purchasing an additional 1,553 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Electronic Arts during the 4th quarter valued at $1,395,000. Kapitalo Investimentos Ltda purchased a new position in Electronic Arts during the fourth quarter worth $57,000. Moody National Bank Trust Division raised its holdings in shares of Electronic Arts by 2.2% in the first quarter. Moody National Bank Trust Division now owns 5,484 shares of the game software company’s stock worth $728,000 after acquiring an additional 119 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Electronic Arts by 21.1% in the first quarter. CWM LLC now owns 5,352 shares of the game software company’s stock valued at $710,000 after acquiring an additional 934 shares in the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 price objective on shares of Electronic Arts in a research report on Wednesday, September 18th. Roth Mkm restated a “neutral” rating and set a $154.00 target price on shares of Electronic Arts in a research report on Thursday, September 19th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $150.00 target price on shares of Electronic Arts in a research note on Wednesday, September 18th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $154.00 price target on shares of Electronic Arts in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $161.94.

Insider Activity

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the transaction, the insider now owns 31,190 shares in the company, valued at $4,675,692.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Stuart Canfield sold 1,260 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $148.37, for a total transaction of $186,946.20. Following the completion of the sale, the chief financial officer now owns 7,553 shares of the company’s stock, valued at approximately $1,120,638.61. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the sale, the insider now directly owns 31,190 shares in the company, valued at $4,675,692.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,770 shares of company stock worth $3,643,785 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Electronic Arts Price Performance

EA opened at $145.04 on Thursday. The company has a 50 day moving average of $145.27 and a two-hundred day moving average of $138.91. Electronic Arts Inc. has a 52-week low of $119.92 and a 52-week high of $153.51. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. The company has a market cap of $38.54 billion, a P/E ratio of 30.99, a P/E/G ratio of 1.95 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, analysts expect that Electronic Arts Inc. will post 5.93 earnings per share for the current year.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, August 28th. Electronic Arts’s dividend payout ratio (DPR) is 16.24%.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.